Opportunity Bank, Finca to boost business, education in refugee camps

26 April 2023, 12:38 pm

Byamukama Alozious > byamukamaalozious1993@gmail.com

Over 10,000 refugees are to benefit a business boost, education support as Opportunity Bank, Finca vows to support them, by borrowing them money with minimal securities

Through a grant from The Hilton Foundation Early Childhood Development Programme, a total of 50,000UDS has been secured for this programme, Ssempija Noah Manager Refugee Programe at Opportunity Bank told reporters yesterday   

‘’The money will be borrowed by the people who are well organized. This has come to reduce on burden  refugees had to pass to get a loan such as being asked of land titles, academic papers , letter from the prime Minister which  backslides  their needs , leading to illiteracy, poverty and financial trauma amongst others’’, SSempija adds

Opportunity Bank  CEO; Opportunity Bank Uganda, Owen Amanya appreciated the HiltonFoundation and Said to have a partnership with FINCA to render the refugee financing space with more finances and the financial literacy is a great milestone to help refugees take part in economic run

In the Same way Dian Aqrchel, The refugee Program Associate said,  Opportunity Bank  will concentrate in Nakivale camp in Isingiro where  they had already established a branch and will extensively carry out the financial training to avoid money risk but also to help the population invest better. She further highlighted Opportunity Bank’S journey in the refugee space. ‘’A tailor made savings account was developed and have registered over 6000 Refugee savings accounts and over 100 groups VSLAs, 418 million disbursement in the space and over 2000 financial literacy participants’’ . Diana adds that the bank has given a loan repayment schedule specifically for the refugees in the settlements that they serve has helped the refugees get financial inclusion

Whereas Finca vows to boost and financial literacy in refugee camp of kiryandongo  and   Kampala, Both banks believed to prioritize  women in order to promote economic gender  equality , because most women in Uganda and just like in the refugee camps do not ably handle financials of which when trusted would gear the economy